In today’s briefing:
- S&P 500 and Nasdaq 100 Testing Initial Support; Russell and Nasdaq With Bullish Breadth Divergences
S&P 500 and Nasdaq 100 Testing Initial Support; Russell and Nasdaq With Bullish Breadth Divergences
- In last week’s 2/25/25 Compass, we discussed our expectation for near-term downside as the S&P 500 and Nasdaq 100 (QQQ) displayed several bearish short-term developments.
- We said don’t be surprised if there is a test of the bottom of the range at either 5770-5850 or 5600-5670, where we would be buyers
- The S&P 500 and Nasdaq 100 (QQQ) are testing major confluence of support at 5770-5850 and $490-$500, respectively, the first of our potential bottom levels discussed last week.
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